Transcendent and Ontier's Impact Observatory invite Sir Ronald Cohen, the father of impact investing, to Madrid to present his book "Impact" in Spanish.
On 4 October 2023, the first edition of the event "Spain, leading country of impact: Transforming capitalism for change".. An event organised by the Impact Observatory by Transcendent and Ontier which was attended by Sir Ronald CohenHe is considered the father of the impact economy, founder of the venture capital firm Apax Partners and chairman of the Global Steering Group for Impact Investment (GSG), the world's leading initiative to drive impact investment.
A committed philanthropist, venture capitalist, private equity investor, great social innovator, as well as a leading pioneer in driving the Impact Revolution worldwide, he spoke about the keys and the opportunity for Spanish companies to have a clear sustainability strategy, to embrace impact and technology to find new markets and lines of business that generate high economic benefit while having a positive impact on people, as stated in his latest book, "The Impact Revolution". book presented at this event in Madrid in its Spanish version "Impact: Transforming capitalism for change"..
Book launch in Spanish "Impact: Transforming Capitalism for Change".
Before more than 300 leaders from the public and private sectors, entrepreneurs and the third sectorof the vice-president of the CEOEIñigo Fernández de Mesa, the director-general of CaixaBank AM and Chairman of SpainNABJuan Bernal, the vice-president of the Impact Observatory and president of OntierPedro Rodero, and the president of the Impact Observatory and partner of TranscendentThe Impact Revolution is guiding consumers, entrepreneurs, investors, businesses, companies, philanthropists and governments to create tangible and measurable impact. To completely transform our economic model, the risk-return-impact trinomial must become the epicentre of our decision-making.
Sir Ronald Cohen, accompanied by the president and vice-president of the Impact Observatory, the vice-president of CEOE, the president of Spain NAB, the president of Acción Social por la Música and Transcendent's partners.
Putting impact at the heart of business strategy requires a process of transformation to a new level, where the impact of business companies incorporate the impact they generate into their strategic decisions.The impact they have on their stakeholders can be measured and managed.
As Cohen explained, "when we look at the world through a lens of impact, we discover opportunities for greater growth and profitability that would otherwise have gone unnoticed. In short, doing good can be big business".
"The Impact Revolution is guiding consumers, entrepreneurs, investors, businesses, philanthropists and governments to create tangible and measurable impact". In fact, today cn increasing number of companies that, by managing sustainability as a strategic element of managementhave on their roadmap evolve its business model towards impact. "We must transform our economic model so that instead of causing problems, we generate solutions," Cohen said.
Generating more value for money from impact
This change in model is reflected in greater recognition of companies that meet ESG criteria, drive long-term value creation and prioritise economic activities that optimise positive social and environmental impact, rather than purely short-term financial return.
As a result, the volume of impact investment has grown exponentially, mobilising over the last few years 1 billion in impact investment and 40 billion in ESG investment.
Today's capitalism, based solely on economic profit, can be changed to a capitalism that is focused on economic profit and social impact alike, redirecting large flows of capital to improve the world, explains the author and renowned entrepreneur.
"It is time for us to raise our voices, to make an impact through our decisions. From how we work, buy and invest, to how we influence our governments," said Sir Ronald Cohen.
This meeting, the second organised by the Impact Observatory this year, aims to promote the impact that companies are capable of generating based on an economic model centred on not only in minimising harm, but also in generating a positive impact.
The event closes a key year for Spain, following its start with the Impact Week in mid-June in Madrid, and as the venue for the GSG Annual Congress in Malaga in early October.
The Impact Observatoryan initiative by Transcendent and Ontier to boost the impact and sustainability as a competitive advantage for companies, has organised the first edition of the Impact Week. A week of meetings that will take place from 12 to 14 June and will be attended by Sir Ronald Cohenfather of Impact Investment and chairman of the GSG (Global Steering Group for Impact Investment).
A meeting for leaders and representatives of the Spanish business and financial sector.
Cohen will be the protagonist of a series of private meetings with leaders and representatives of the highest level of the business and financial sector in our country, such as theCEOE, the Círculo de Empresarios or the Instituto de Empresa Familia (IEF).among others.
Cohen's presence in Spain will open up the debate on the great challenges we face and will convey to leaders and businessmen the the need to drive a new impact economy based on an economic model that optimises benefits and social and environmental impact at the same time.
The meetings will also serve to share the vision on the key role that business plays in this new stream of impact thinking, delving into the challenges and opportunities of new ESG regulation, measurement, non-financial accounting or the opportunity of sustainable and impact finance for business.
Sir Ronald CohenThe President of the world's leading global impact organisation the Global Steering Group for Impact Investment (GSG)will address the major challenges facing us today, from the devastating effects of climate change, forced migration and the refugee crisis around the world, to the global inflationary crisis and the war in Ukraine.
Ronald Cohen to address the importance of a new impact economy
Cohen will discuss all of this under the umbrella of an urgently needed new impact economy, the opportunities of ESG financing and the key role of business in generating sustainable growth. These are complex times where we need strong leaders to lead the way to change.
Sir Ronald Cohen is also Chairman of the Portland Trust, Founder of Apax partners and Bridges Fund Management, pioneering venture capital managers, advisor to heads of government in Europe, the US and Latin America and Father of impact and social investing.
The Impact ObservatoryCohen, the facilitator of these private meetings with Cohen, aims to drive impact in companies, in line with its objective of accompanying them on the path to sustainability by making impact a tool for innovation and business opportunity.
The words of the owner and founder of the Indian Mahindra Group, "....What gets measured gets done"(what gets measured, gets delivered) sums up the challenge and opportunity of sustainability and business impact.
This year's Annual Congress of the GSG (Global Steering Group for Impact Investment), a global organisation that drives impact investment around the world and chaired by Sir Ronald Cohen, brought together more than 300 connected people and a total of 24 top-level speakers including members of government, the European Commission, executives, owners and founders of large companies, entrepreneurs and financiers.
They all stressed that the time for sustainability and impact had come. We know the what - measuring and managing impact - and therefore the next big challenge is the how.
And the questions posed by the speakers invite us to reflect on how to manage and measure impact: are governments, through subsidies, taxes and aid, giving signals to the market about what is or is not highly profitable (gas for example), does demanding greater transparency of non-financial information require greater regulation? What financial vehicles available to small savers but also to large investors are the best to attract large capital flows to invest in companies and projects that are changing the world, when will a single impact measurement model be available, how to move from KPIs to monetary terms, audited and mandatory non-financial accounting at the same level as financial accounting be the solution?
The purpose is a strategic lever The value creation potential and profitability is well established. Companies with a defined and integrated purpose, whose approach is to focus on improving their financial performance and the common good, achieve a better performancea highest market valuation and create more shareholder value compared to the rest.
This need to incorporate ESG (social, environmental and governance) aspects is a trend that has no way back and will force companies to transform themselves by making impact a management tool.
"Purpose increasingly demands the professionalisation of business leaders".
A new committed leadership
The activation of purpose and the management of social, environmental and governance impacts is becoming an element that demands a further professionalisation to business leaders.
To address this issue, José Antonio LabarraCEO of ROADISa leading company in the development, operation and management of transport infrastructure assets, recently met with Ángel Pérez AgenjoTranscendent's managing partner, at a meeting organised by APD on the Business Purpose.
Purpose as a management tool and a lever for value creation
The five benefits of purpose in business
There are a number of competitive advantages that differentiate a company that works and activates the Purpose from others. These include:
Increases profitability and market value. Purposeful companies improve their market value faster than others. However, purpose has a positive impact that goes far beyond a company's bottom line as it generates many other benefits as well.
Improves reputation and legitimacy to operate: By publicly stating its purpose, a company demonstrates its commitment and the benefits it brings to its stakeholders and society as a whole, and this clearly enhances its reputation. Companies that define and activate their purpose therefore significantly reduce the risk of corporate scandal eroding their licence to operate.
It allows you to manage and retain talent: Business purpose is a differentiating element that can be beneficial for all three aspects since, from a Human Resources management point of view, it constitutes a real strategy for the management of human resources. employer branding.
Customer loyalty: It emphasises the unique and distinctive contribution that the company makes to the big issues we face. For that reason, it has the potential to generate stronger relationships with its customers, who tend to be more attracted to companies that convey authenticity and that they consider to be worthy of their trust. when a company sets and activates its Purpose it arouses interest and attraction from its customers.
Investor interest is increasing: Investors are increasingly integrating ESG criteria into their decisions and are interested in the social and environmental performance of companies.
In the case of ROADIS, its Purpose is in the value creation in the communities in which it operates through profitable investments in major infrastructure projects. To do this, it relies on 4 main attributes: ethics, prosperity, innovation and security".
The transformation process towards sustainability
In 2019, the company headed by Labarra decided to take a step forward and adopt the sustainability as part of its business model and, above all, as a lever for value creation in order to become an active part of the transition towards a more responsible and sustainable economic model.
According to its CEO "we defined a Cross-cutting Master Sustainability Plan to all areas of the company by offering a framework for action that would allow us to have a solid position in the business context, as well as to become an active part of the transition to a more responsible and sustainable economic model".
For his part, Pérez Agenjo emphasises that "the market rewards the purpose-driven companies and punishes those that do not. That is already part of the new business paradigm. And therefore, for the 43% of the companies sustainability policies and management of ESG parameters have become a urgent issue".
Measuring impact, a key tool to avoid the "Impactwashing
Pérez Agenjo assures that establish an impact measurement system In the company, setting indicators and putting them at the heart of corporate strategy is one of the first steps to combat the already well-known Impactwashing.
For the CEO of ROADIS quantifying and measuring impacts is essential to understand and analyse the impact generated on both society and the environment. Quantification is not easy, but it is necessary because what cannot be measured cannot be improved.
"Quantifying and measuring impacts is essential to understand and analyse the impact generated".
To this end, they have set up a system to measure the company's impact, and they have set indicators with the aim of putting them at the heart of corporate strategy.
"At ROADIS we have developed a methodology for measuring economic, social and environmental impact of our assets in order to identify the medium and long-term effects of our assets on users, employees, communities, the environment, suppliers, institutions and any other relevant stakeholders in the environments in which we operate. It is a valuable tool we use to identify and quantify impacts from a broader perspective. A methodology based on the best practices of the Impact Management Project (IMP)," Labarra concludes.
The Global Risk Report 2022 of the World Economic Forum (WEF) identifies the major challenges we face as a planet and as a society.
Climate, the biggest risk
Again, the health of the planet remains the greatest concern. Environmental risks, in particular "extreme weather" and "failure of climate action" emerge as the main risks in the short, medium and long term because of their potential to cause the greatest harm to people and the planet.
In fact, the five most voted risks in the study for the period between 2027 and 2034 are climate-related: environmental policy failure, extreme weather, biodiversity loss, natural resource crisis and human environmental damage.
According to the WEFgovernments, businesses and societies face increasing pressure to make the transition to net zero economies. An aggressive and rapid transition would alleviate long-term environmental consequences, but could have severe short-term impacts, such as putting millions of carbon-intensive industry workers out of work or triggering tensions.
Economic crisis, the most worrying thing for Spain
The second most prominent risk in the short term is the "livelihood crisis", an indicator that encompasses rising unemployment, underemployment, lower wages, fragile contracts, erosion of workers' rights, and the like.
This risk has been rated by the Spanish experts who participated in the survey as the most worrying, followed by economic stagnation and the debt crisis. The report states that this crisis may trigger an increase in inequality and access to opportunities, as well as worse health, humanitarian and migration crises.
The most serious challenge that remains from the pandemic is economic stagnation. The macroeconomic outlook remains weak, with the global economy expected to be 2.3 % lower by 2024 than it would have been without the pandemic.
Commodity prices, inflation and debt are rising in both the developed and developing world. The pandemic and its economic consequences continue to affect countries' ability to control the virus and facilitate sustainable recovery.
Together with labour market imbalances, protectionist policies and growing disparities in education, the economic consequences of the pandemic risk widening the gaps between countries.
Social cohesion and mental health
The "erosion of social cohesion", and the "deterioration of mental health" are other major threats to the world in the next two years.
Geo-economic conflicts
Geo-economic confrontations', including those currently taking place between the US, China, Europe and Russia, will emerge as a critical threat to the world in the medium to long term, and for respondents this is one of the most serious potential risks for the next decade.
Increasing reliance on digital systems
Emphasised by COVID-19, this technological dependency has increased cybersecurity risks. "Digital threats are growing and are outpacing the ability of societies to prevent or respond to them effectively. For example, in 2020, malware and ransomware attacks increased by 358% and 435% respectively.".
Outlook for the coming years
41.8% of the experts who contributed to the survey predicted that the global situation in the coming years will be negative and "volatile with constant surprises", while 37.4% anticipated "fractured trajectories separating winners and losers", and only 10.7% thought there would be an "accelerated global recovery".
Also, 61.2% of the participants responded that they were 'worried' about the future, while 23% responded that they were 'anxious'.
Although more was expected from this climate summit, as Melissa Fleming, Under-Secretary-General for Communication for the United Nations, has said, "...the climate summit was a success.there is still hope".
The latest report of the Intergovernmental Panel on Climate Change (IPCC) states that, unless greenhouse gas emissions are reduced immediately, rapidly and on a large scale, limiting warming to 1.5°C above pre-industrial levels as set out in the Paris Agreement six years ago, will be an unattainable goal. That is what this summit sought to achieve, and despite the lukewarmness or total lack of commitment on the part of some states, progress has been made.
Agreements adopted at the Climate Summit
The Glasgow Climate Summit has brought with it some agreements that reflect a growing awareness of the urgent need to take a step forward to avoid environmental disaster.
These are some of the compromises that have been reached in the Climate Summit:
US-China bilateral agreement to help reduce CO2 and methane emissions and combat illegal deforestation.
More than 100 countries, including the US and the European Union, agree to reduce methane emissions by 30% by 2030. China has refused to go along because it says it has its own plan.
Agreement between more than 20 countries, including the United States, Canada, Spain and Italy, to end public funding and subsidies for fossil fuels before the end of 2022. China, Japan and South Korea have not signed.
110-country agreement to stop deforestation by 2030.
The International Sustainability Standards Boardwhich will enable companies to adopt harmonised and comprehensive environmental, social and governance reporting criteria.
Countries accounting for 90% of global GDP have committed to the carbon neutrality in 2050. China postpones the target to 2060 and India to 2070.
The Beyond Oil and Gas Partnership (BOGA), which proposes phasing out the production of both fuels, although it currently has only 12 members.
The issue of the price of emissions
However, this progress contrasts with the lack of concreteness on some key issues. This is particularly the case for so-called double counting in the carbon market.
Today there are around 60 different initiatives to put a price on CO2. The problem is that they only cover about 20% of the world's total emissions and their average price is too low (about $3 per tonne).
The International Monetary Fund recently estimated that the price should be around 75 dollars per tonne, that in the regulated European market it is around 60 euros and that the US government estimated the social cost of carbon at around 50 dollars per tonne.
Pricing of CO2 emissions is an efficient way forward in reducing emissions because it discourages CO2 intensive activities and encourages companies to move towards decarbonisation.
Some companies - just over 20% of the world's largest - have set internal carbon prices, allowing them to take carbon into account in assessing the suitability of their projects and the impact of emissions on their accounts. The problem is that companies generally also set an excessively low price per tonne, well behind their foreseeable evolution. This means that the information provided by the internal price is not sufficiently clear.
Although in the Conference of the Parties 26 (COP) has not been much talked about, a global price on carbon will eventually be imposed. In the meantime, Spanish companies should start asking themselves what would happen to their accounts and the profitability of their projects if they had to pay for carbon. Sooner rather than later they will end up doing so.
Along these lines, the Secretary General of the United Nations, António Guterres, has announced that beyond the mechanisms established in the Paris Agreement, he will create a Group of Experts to propose clear standards for measuring and analysing net zero commitments for any organisation that is not a State.
China takes a step forward
One of the most important events to come out of this climate summit was undoubtedly the signing of the climate peace agreement between China and the United States. The heads of the delegations of both nations presented a joint declaration in which they commit themselves to work to accelerate during this decade the fight against climate change.
Among the most important points of the pact reached by both powers is the commitment of the Asian country to present a comprehensive plan for the reduction of greenhouse gas emissions within the next year a comprehensive plan for the reduction of its methane emissions, a powerful greenhouse gas responsible for about 25% of current warming.
The agreement is relevant because both countries account for about 40% of global emissions: China 27% and the US 11%. And their commitments for this decade are very different. The US, with the arrival of Joe Biden in the White House, has committed to practically halving its emissions by 2030. China, however, so far only maintains the commitment to reach its peak emissions by 2030 and thereafter to reduce them.
Iran and Brazil look the other way
On the geopolitical front, the positioning - or lack thereof - of some countries is noteworthy.. This is the case of Brazil, whose president has decided not to stop deforestation in the Amazon and rejects climate change from a scientific point of view; Iran, which is the sixth largest emitter in the world and has not even ratified the Paris Agreement yet. Or Australia, Mexico and Turkey are also in a grey zone that would not belong to them.
Climate Summit stocktaking
In short, the Glasgow climate summit fell short in its ambitions to revitalise the fight against climate change. In any case, it is just as important to accelerate and intensify environmental policies as it is to respect the commitments already made by the various countries.
Sir David Attenborough, in his speech to COP26 in Glasgow
According to the organisation's projections Climate Action Tracker, if each and every one of the announced targets (mandatory and voluntary, long-term and NDCs) is met, the temperature rise by the end of the century could be limited to 1.8°C, not far from the 1.5°C target set in the Paris Agreement. But that is surely too optimistic. The road ahead is long and difficult, and it remains to be seen whether the target will eventually be met.
The VIII S2B Impact Forumthe leading congress on the impact economy, will be held between 24 and 26 November to discuss the real transformationThe transition from ideas to facts, the changes in models and the advantages and difficulties involved in putting them into practice.
The first day will focus on the companies and startups that are transforming. They will talk to entrepreneurs and business people who are driving impact and who are facing different challenges as they scale up.
This first day will feature speakers such as Saskia BruystenYunus Social Business co-founder and CEO, who will explain her experience of how the impact-driven model can be both profitable and scalable in a session with Maria Angeles Leonco-founder and CEO of the Open Value Foundation, a Oscar Pierrewith whom we will analyse the difficulties that can be encountered on the road to impact in a startup like Glovo.
Towards a new sustainable economic model
The second day of the Impact Forum, which will focus on the facilitators of transformationThe European Commission and the European Commission, which provide support to these companies and entrepreneurs, whether through acceleration, funding or regulation.
This session will be opened by Sir Ronald Cohenthe father of impact economics and chairman of Global Steering Group for Impact Investment (GSG). Cohen, who will analyse what needs to be done to transform companies and generate a new economic model based on sustainability.
In addition, the following will participate Filipe Almeida (NAB Portugal), Stéphanie Goujon (French Impact) and José Luis Ruiz de Munaín (SpainNAB) to analyse the role of the public sector in facilitating or even accelerating this process of economic innovation.
And since today more than ever a powerful narrative is vital to build a future with the conviction that it is worth working for, international leaders in constructive journalism such as Alfredo Casares (Institute for Constructive Journalism), Tina Rosenberg (The New York Times) and Ulrik Haagerup (Constructive Institute) will examine the role of journalism in this transformation.
Tim Jackson (Center for the Understanding of Sustainable Prosperity) will close the day with a discussion on the need for "Reshaping capitalism to drive real change". Capitalism has been the engine of our modern societies, it has brought innovation and wealth, but it has also led to excesses, such as inequalities and environmental damage. The question is, how can we put the economic engine and finance at the service of people and the planet?
Corporate impact strategies
The final day of the VIII Impact Forum Congress will bring together investors and CEOs of large companies to share ideas on the implementation of impact strategies and business model changes, while analysing the challenges of this integration, the involvement of management in enabling change and the role of investment in driving this transformation.
Speakers in this analysis will include such distinguished speakers as Cliff Priorof the Global Steering Group for Impact Investment (GSG), Bertrand Badréby Blue like an orange capital, Keimpe Keuningof LGT Capital Partners, Cristina Marsalfrom Sandman. Firoz LadakCEO of the Edmond de Rothschild Foundations, or Maria Peñaof ICEX.
All information on the Ship2B Impact Forum can be found on its website at websiteFind out more about business impact in the Transcendent blog!
The VIII S2B Impact Forumthe leading congress on the impact economy, will be held between 24 and 26 November to discuss the real transformationThe transition from ideas to facts, the changes in models and the advantages and difficulties involved in putting them into practice.
The first day will focus on the companies and startups that are transforming. They will talk to entrepreneurs and business people who are driving impact and who are facing different challenges as they scale up.
This first day will feature speakers such as Saskia BruystenYunus Social Business co-founder and CEO, who will explain her experience of how the impact-driven model can be both profitable and scalable in a session with Maria Angeles Leonco-founder and CEO of the Open Value Foundation, a Oscar Pierrewith whom we will analyse the difficulties that can be encountered on the road to impact in a startup like Glovo.
Towards a new sustainable economic model
The second day of the Impact Forum, which will focus on the facilitators of transformationThe European Commission and the European Commission, which provide support to these companies and entrepreneurs, whether through acceleration, funding or regulation.
This session will be opened by Sir Ronald Cohenthe father of impact economics and chairman of Global Steering Group for Impact Investment (GSG). Cohen, who will analyse what needs to be done to transform companies and generate a new economic model based on sustainability.
In addition, the following will participate Filipe Almeida (NAB Portugal), Stéphanie Goujon (French Impact) and José Luis Ruiz de Munaín (SpainNAB) to analyse the role of the public sector in facilitating or even accelerating this process of economic innovation.
And since today more than ever a powerful narrative is vital to build a future with the conviction that it is worth working for, international leaders in constructive journalism such as Alfredo Casares (Institute for Constructive Journalism), Tina Rosenberg (The New York Times) and Ulrik Haagerup (Constructive Institute) will examine the role of journalism in this transformation.
Tim Jackson (Center for the Understanding of Sustainable Prosperity) will close the day with a discussion on the need for "Reshaping capitalism to drive real change". Capitalism has been the engine of our modern societies, it has brought innovation and wealth, but it has also led to excesses, such as inequalities and environmental damage. The question is, how can we put the economic engine and finance at the service of people and the planet?
Corporate impact strategies
The final day of the VIII Impact Forum Congress will bring together investors and CEOs of large companies to share ideas on the implementation of impact strategies and business model changes, while analysing the challenges of this integration, the involvement of management in enabling change and the role of investment in driving this transformation.
Speakers in this analysis will include such distinguished speakers as Cliff Priorof the Global Steering Group for Impact Investment (GSG), Bertrand Badréby Blue like an orange capital, Keimpe Keuningof LGT Capital Partners, Cristina Marsalfrom Sandman. Firoz LadakCEO of the Edmond de Rothschild Foundations, or Maria Peñaof ICEX.
All information on the Ship2B Impact Forum can be found on its website at websiteFind out more about business impact in the Transcendent blog!
His Majesty the King inaugurated the XXIV National Congress of Family Businesses organised by the Instituto de la Empresa Familiar (IEF) with the collaboration of the Asociación para el Desarrollo de la Empresa Familiar Navarra (Adefan) and the sponsorship of Banco Santander and KPMG, brings together in Pamplona around 500 family entrepreneurs from all over Spain, under the slogan "Working for a better society".
The opening ceremony of the Congress was also attended by the President of the Autonomous Community of Navarre, María Chivite, the Minister of Industry, Reyes Maroto, and the President of the Regional Government of Navarre, María Chivite. IEFMarc Puig, who in his speech highlighted the work carried out by family businesses during the pandemic, highlighted the commitment of these companies to spearheading the social and economic transformation that our country must undertake and showed pride in the work, perseverance and leadership that characterises the day-to-day work of Spanish family businesses.
Puig recalled that the slogan of the Congress, "We are working for a better society", sums up the nature of family businesses, which are characterised "by sharing a series of essential values: long-term vision, a desire for continuity through the generations, commitment to society and local roots".
The president of the IEF explained how family businesses work for a better society: leading the transformation effort required in the fight against climate change, working from the companies themselves for equality, non-discrimination and social cohesion, and creating quality employment. "We are well aware of the importance of employment for prosperity to reach everyone. We are going to make an effort to continue creating quality jobs and we ask that they allow us to do so, that they do not put us in worse conditions than those of our neighbouring countries with which we compete", he said.
The president of the IEF, Marc Puig, has advocated an alliance with the public authorities that will allow companies to grow and consolidate, while at the same time asking that no obstacles be placed in the way of this growth and that Spanish companies continue to enjoy the same conditions as those in other European countries. This is what he said in his closing speech at the 24th National Family Business Congress, which brought together nearly 500 family businesspeople from all over Spain for two days in Pamplona.
Social and environmental challenges
For Puig, the challenges facing the Spanish economy are the same as those facing family businesses: overcoming the pandemic and adapting to the demands of a new environment marked by digitalisation, respect for the environment and social commitment. To address these challenges, companies need, according to him, "greater productivity and to be able to compete on equal terms with companies in other countries". And on this point, growth is fundamental. It has been demonstrated, he said, that at a similar size compared to other European countries, "our companies are perfectly competitive. So let us make it easier for our companies to grow".
Sign up for the commitment to sustainability
As a preamble to the beginning of the Congress, the presidents of the Family Business Institute and the 18 associated Territorial Associations of Family Businesses signed an institutional declaration attesting to the commitment of Spanish family businesses to the best management practices that favour sustainability, which must be understood from three different and inseparable angles: business, social and environmental.
At the business level, the commitment assumed by family businesses through this institutional declaration consists of managing through long-term business and investment practices based on ethical criteria, which allow for sustainable growth and which take into consideration the interests of workers, customers, suppliers, shareholders, institutions, administrations and society as a whole.
The social commitment, for its part, includes the promotion of diversity, gender equality, social inclusion and the generation of stable and quality employment in line with the needs of the companies. Finally, family businesses are committed to managing themselves in an environmentally friendly way, adopting the necessary modifications in their processes to reduce CO2 emissions.
The impact revolution
The last day of the Congress featured the intervention of Paul Polmanformer CEO of Unilever and co-founder of Imagine, who explained to the audience that "we all have a responsibility for the footprint we leave on this world".
What kind of world do we want to live in? This is the question we face today.
María Herrero, partner at Transcendent, moderated the panel on the impact economy.
Capitalism has served us well over the last 200 years. Yet nations continue to be wracked by economic inequality, social conflict, natural disasters, the threat of climate change and the consequences of an unprecedented pandemic whose economic and health consequences are still unpredictable.
Governments cannot and do not have the financial resources to address the major social and environmental challenges we face and the negative impact of corporate production of goods and services. Nor can philanthropists and NGOs, helpful as they undoubtedly are, offer a viable and scalable solution. It is business and private capital, the drivers of innovation, change and transformation that have the capacity to direct their economic activity and capital flows towards social change that will generate greater economic prosperity and sustainable growth.
Thus, impact investment arises, which has a clear and measurable intention to generate a social and/or environmental impact as well as an economic return.
Under the risk-return-impact equation, impact investment seeks a triple return: economic, social and environmental. It is not philanthropy or non-refundable donations, but rather investments that seek a return on capital while contributing to the search for solutions to the great challenges facing humanity, such as hunger, illiteracy, health problems, lack of access to drinking water and electricity, gender inequality, unemployment, homelessness, migration and environmental destruction, among others. As Transcendent partner María Herrero explained, it is about making sense of our investments. Because "what is our money doing while we sleep", she asked the audience.
For Sir Ronald CohenThe President of the Global Steering Group for Impact InvestmentThis moment calls for a revolution. We must make impact the focus of our consciousness. Instead of relying on governments and philanthropy to bring about social improvement, we must introduce a third force to accelerate the pace of change: the private sector... this is the new impact economy, each and every one of us has a role to play in it".
The Impact Revolution with Sir Ronald Cohen, Chairman of the GSG
Ainoha Grandes (president of the SHIP2B Foundation), Teresa Guardans (co-founder of Oryx Impact), María Herrero (partner of Transcendent) and Alejandra Mitjans (director of Ashoka Spain).
Linking people to their companies
During the course of the session Gerardo Iracheta, president of Sigma Twohas presented a survey analysing the social image of the family business. The study includes a series of conclusions worth highlighting. For example, there is a strong link between people and their companies: 83% of citizens say that their company is very important in their lives; and more than 65% consider that in their company they can develop their talent and grow as a person.
62% of respondents believe that the work of business is helping to alleviate the crisis caused by the pandemic and 90% say that business has a role to play in rebuilding the economy. In this regard, 82% specifically state that their company took appropriate measures to ensure the safety of their employees.
The vast majority of respondents stated that they had no problems during their confinement with supplies from private companies (such as energy, internet, food, etc.) or with the payment of their salaries. On the other hand, the majority - between 58% and 75% depending on the case - stated that they had had problems with various public services (health centre, ERTES, Sepes, various formalities). 63.7% had problems collecting benefits.
In the assessment of performance during the pandemic, the government gets a pass mark (5.16 out of 10, failing in several age and voting intention segments); large companies get a pass mark (6.30, passing in all age and voting segments), while SMEs get a B (7.39, passing in all segments).
His Majesty the King inaugurated the XXIV National Congress of Family Businesses organised by the Instituto de la Empresa Familiar (IEF) with the collaboration of the Asociación para el Desarrollo de la Empresa Familiar Navarra (Adefan) and the sponsorship of Banco Santander and KPMG, brings together in Pamplona around 500 family entrepreneurs from all over Spain, under the slogan "Working for a better society".
The opening ceremony of the Congress was also attended by the President of the Autonomous Community of Navarre, María Chivite, the Minister of Industry, Reyes Maroto, and the President of the Regional Government of Navarre, María Chivite. IEFMarc Puig, who in his speech highlighted the work carried out by family businesses during the pandemic, highlighted the commitment of these companies to spearheading the social and economic transformation that our country must undertake and showed pride in the work, perseverance and leadership that characterises the day-to-day work of Spanish family businesses.
Puig recalled that the slogan of the Congress, "We are working for a better society", sums up the nature of family businesses, which are characterised "by sharing a series of essential values: long-term vision, a desire for continuity through the generations, commitment to society and local roots".
The president of the IEF explained how family businesses work for a better society: leading the transformation effort required in the fight against climate change, working from the companies themselves for equality, non-discrimination and social cohesion, and creating quality employment. "We are well aware of the importance of employment for prosperity to reach everyone. We are going to make an effort to continue creating quality jobs and we ask that they allow us to do so, that they do not put us in worse conditions than those of our neighbouring countries with which we compete", he said.
The president of the IEF, Marc Puig, has advocated an alliance with the public authorities that will allow companies to grow and consolidate, while at the same time asking that no obstacles be placed in the way of this growth and that Spanish companies continue to enjoy the same conditions as those in other European countries. This is what he said in his closing speech at the 24th National Family Business Congress, which brought together nearly 500 family businesspeople from all over Spain for two days in Pamplona.
Social and environmental challenges
For Puig, the challenges facing the Spanish economy are the same as those facing family businesses: overcoming the pandemic and adapting to the demands of a new environment marked by digitalisation, respect for the environment and social commitment. To address these challenges, companies need, according to him, "greater productivity and to be able to compete on equal terms with companies in other countries". And on this point, growth is fundamental. It has been demonstrated, he said, that at a similar size compared to other European countries, "our companies are perfectly competitive. So let us make it easier for our companies to grow".
Sign up for the commitment to sustainability
As a preamble to the beginning of the Congress, the presidents of the Family Business Institute and the 18 associated Territorial Associations of Family Businesses signed an institutional declaration attesting to the commitment of Spanish family businesses to the best management practices that favour sustainability, which must be understood from three different and inseparable angles: business, social and environmental.
At the business level, the commitment assumed by family businesses through this institutional declaration consists of managing through long-term business and investment practices based on ethical criteria, which allow for sustainable growth and which take into consideration the interests of workers, customers, suppliers, shareholders, institutions, administrations and society as a whole.
The social commitment, for its part, includes the promotion of diversity, gender equality, social inclusion and the generation of stable and quality employment in line with the needs of the companies. Finally, family businesses are committed to managing themselves in an environmentally friendly way, adopting the necessary modifications in their processes to reduce CO2 emissions.
The impact revolution
The last day of the Congress featured the intervention of Paul Polmanformer CEO of Unilever and co-founder of Imagine, who explained to the audience that "we all have a responsibility for the footprint we leave on this world".
What kind of world do we want to live in? This is the question we face today.
María Herrero, partner at Transcendent, moderated the panel on the impact economy.
Capitalism has served us well over the last 200 years. Yet nations continue to be wracked by economic inequality, social conflict, natural disasters, the threat of climate change and the consequences of an unprecedented pandemic whose economic and health consequences are still unpredictable.
Governments cannot and do not have the financial resources to address the major social and environmental challenges we face and the negative impact of corporate production of goods and services. Nor can philanthropists and NGOs, helpful as they undoubtedly are, offer a viable and scalable solution. It is business and private capital, the drivers of innovation, change and transformation that have the capacity to direct their economic activity and capital flows towards social change that will generate greater economic prosperity and sustainable growth.
Thus, impact investment arises, which has a clear and measurable intention to generate a social and/or environmental impact as well as an economic return.
Under the risk-return-impact equation, impact investment seeks a triple return: economic, social and environmental. It is not philanthropy or non-refundable donations, but rather investments that seek a return on capital while contributing to the search for solutions to the great challenges facing humanity, such as hunger, illiteracy, health problems, lack of access to drinking water and electricity, gender inequality, unemployment, homelessness, migration and environmental destruction, among others. As Transcendent partner María Herrero explained, it is about making sense of our investments. Because "what is our money doing while we sleep", she asked the audience.
For Sir Ronald CohenThe President of the Global Steering Group for Impact InvestmentThis moment calls for a revolution. We must make impact the focus of our consciousness. Instead of relying on governments and philanthropy to bring about social improvement, we must introduce a third force to accelerate the pace of change: the private sector... this is the new impact economy, each and every one of us has a role to play in it".
The Impact Revolution with Sir Ronald Cohen, Chairman of the GSG
Ainoha Grandes (president of the SHIP2B Foundation), Teresa Guardans (co-founder of Oryx Impact), María Herrero (partner of Transcendent) and Alejandra Mitjans (director of Ashoka Spain).
Linking people to their companies
During the course of the session Gerardo Iracheta, president of Sigma Twohas presented a survey analysing the social image of the family business. The study includes a series of conclusions worth highlighting. For example, there is a strong link between people and their companies: 83% of citizens say that their company is very important in their lives; and more than 65% consider that in their company they can develop their talent and grow as a person.
62% of respondents believe that the work of business is helping to alleviate the crisis caused by the pandemic and 90% say that business has a role to play in rebuilding the economy. In this regard, 82% specifically state that their company took appropriate measures to ensure the safety of their employees.
The vast majority of respondents stated that they had no problems during their confinement with supplies from private companies (such as energy, internet, food, etc.) or with the payment of their salaries. On the other hand, the majority - between 58% and 75% depending on the case - stated that they had had problems with various public services (health centre, ERTES, Sepes, various formalities). 63.7% had problems collecting benefits.
In the assessment of performance during the pandemic, the government gets a pass mark (5.16 out of 10, failing in several age and voting intention segments); large companies get a pass mark (6.30, passing in all age and voting segments), while SMEs get a B (7.39, passing in all segments).
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